Xponance Inc. Has $6.05 Million Stake in Veeva Systems Inc. (NYSE:VEEV)

Xponance Inc. boosted its position in shares of Veeva Systems Inc. (NYSE:VEEV) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,754 shares of the technology company’s stock after buying an additional 2,209 shares during the period. Xponance Inc.’s holdings in Veeva Systems were worth $6,046,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of VEEV. Massachusetts Financial Services Co. MA grew its stake in Veeva Systems by 64.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,545,451 shares of the technology company’s stock worth $744,084,000 after buying an additional 1,392,256 shares in the last quarter. Principal Financial Group Inc. grew its stake in Veeva Systems by 138.9% during the third quarter. Principal Financial Group Inc. now owns 2,179,284 shares of the technology company’s stock worth $457,366,000 after buying an additional 1,267,061 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Veeva Systems by 73.2% during the third quarter. JPMorgan Chase & Co. now owns 2,558,592 shares of the technology company’s stock worth $536,972,000 after buying an additional 1,081,501 shares in the last quarter. Wealthfront Advisers LLC grew its stake in Veeva Systems by 29,760.5% during the fourth quarter. Wealthfront Advisers LLC now owns 1,048,700 shares of the technology company’s stock worth $220,489,000 after buying an additional 1,045,188 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Veeva Systems by 25.7% in the 3rd quarter. FMR LLC now owns 2,981,244 shares of the technology company’s stock valued at $625,674,000 after purchasing an additional 610,021 shares in the last quarter. 88.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Stephens restated an “overweight” rating and issued a $280.00 price target on shares of Veeva Systems in a research note on Thursday, March 6th. Stifel Nicolaus raised their price target on shares of Veeva Systems from $240.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho assumed coverage on shares of Veeva Systems in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $275.00 price target on the stock. The Goldman Sachs Group downgraded shares of Veeva Systems from a “buy” rating to a “sell” rating and reduced their price target for the company from $261.00 to $200.00 in a research note on Thursday, January 23rd. Finally, Canaccord Genuity Group raised their price target on shares of Veeva Systems from $210.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $255.28.

Veeva Systems Trading Up 0.3 %

Shares of VEEV stock opened at $237.09 on Thursday. The firm has a market capitalization of $38.49 billion, a PE ratio of 58.54, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. The firm has a fifty day simple moving average of $228.49 and a two-hundred day simple moving average of $221.93. Veeva Systems Inc. has a 12 month low of $170.25 and a 12 month high of $258.93.

Veeva Systems Profile

Veeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.